MillerKnoll Reports Q1 Non-GAAP EPS of $0.53, Beats Estimates but Revenue Misses
In its first-quarter earnings report, MillerKnoll (MLKN) reported a non-GAAP EPS of $0.53, which exceeded estimates by $0.18. However, the company's revenue came in at $923.4 million, missing expectations by $19.9 million and declining 3.4% year-over-year. Despite this, orders rose to $913.9 million, up both as reported (3.2%) and organically (3.5%). For the second quarter of fiscal year 2027, MillerKnoll provided guidance with net sales expected between $972 million and $1.012 billion against a consensus estimate of $1.01 billion. The company also projected gross margins to range from 38.3% to 39.3%, adjusted operating expenses between $321 million and $331 million, interest and other expense net at $15.8–$16.8 million, an adjusted effective tax rate of 21-23%, and adjusted earnings per share-diluted from $0.43 to $0.49 versus a consensus estimate of $0.46. Following the report, shares fell by approximately 1.5% in after-hours trading.
Tickers: $MLKN